Should I start own exchange website?

[Cryptoearner]

I am thinking to start own exchange website like (coinexchange.io) , yes I want to build small exchange.
But before start I want to know something , hope I will get my answer.
Building exchange is profitable?
How much investment it's need?
Where I can promote it?
How I can avoid or put low transaction cost?
How much time I need per day behind this project?

If you want to share any suggestions then most welcome.

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[examplens]

I am thinking to start own exchange website like (coinexchange.io) , yes I want to build small exchange.
But before start I want to know something , hope I will get my answer.
Building exchange is profitable?
How much investment it's need?
Where I can promote it?
How I can avoid or put low transaction cost?
How much time I need per day behind this project?

If you want to share any suggestions then most welcome.

I am not sure how much investment you need for exchange, profitable is for sure. But i am pretty sure that there you have lot of hard work behind and it is not job for one man.
And of course, BTCT is best place for promotion begin

[Vod]

I am thinking to start own exchange website like (coinexchange.io) , yes I want to build small exchange.
But before start I want to know something , hope I will get my answer.
Building exchange is profitable?
How much investment it's need?
Where I can promote it?
How I can avoid or put low transaction cost?
How much time I need per day behind this project?

If you want to share any suggestions then most welcome.

If you have to ask such basic questions, you are probably not suited to run an exchange.  Sorry.  :/

[European Central Bank]

you would need bulletproof security, a ton of people to work on customer support, big bandwidth and the time to maintain all the wallets.

rather you than me. even if you get it working you might get hacked to death.

[Cryptoearner]

you would need bulletproof security, a ton of people to work on customer support, big bandwidth and the time to maintain all the wallets.

rather you than me. even if you get it working you might get hacked to death.

Yes hacking is main problem, I have friends who are good in programming and in computer.

[Cryptoearner]

I am thinking to start own exchange website like (coinexchange.io) , yes I want to build small exchange.
But before start I want to know something , hope I will get my answer.
Building exchange is profitable?
How much investment it's need?
Where I can promote it?
How I can avoid or put low transaction cost?
How much time I need per day behind this project?

If you want to share any suggestions then most welcome.

If you have to ask such basic questions, you are probably not suited to run an exchange.  Sorry.  :/

Thanks for your valuable reply.
If I want to start any business then definitely I know something about that business, but I have to gain more knowledge about that business to be success in same.

[diagla]

I am thinking to start own exchange website like (coinexchange.io) , yes I want to build small exchange.
But before start I want to know something , hope I will get my answer.
Building exchange is profitable?
How much investment it's need?
Where I can promote it?
How I can avoid or put low transaction cost?
How much time I need per day behind this project?

If you want to share any suggestions then most welcome.

If you have to ask such basic questions, you are probably not suited to run an exchange.  Sorry.  :/

Thanks for your valuable reply.
If I want to start any business then definitely I know something about that business, but I have to gain more knowledge about that business to be success in same.

It takes a large investment and a lot of technical knowledge along with employees. Sure you could put up a cheap exchange run from a home server but who's going to want to use it? After you create a secure site and everything, you then need to spend on advertising and customer acquiring. With your background I think there's better options if you want to make money.

[CoinTek]

I am curious about this question but more in regards to what is the tech that is used to build an exchange, how much should it cost or how many hours of development should it consist of.  I have contacted a few people to find out and the price varies.

Let me know if someone can provide some guidance here.

[Cryptoearner]

I am thinking to start own exchange website like (coinexchange.io) , yes I want to build small exchange.
But before start I want to know something , hope I will get my answer.
Building exchange is profitable?
How much investment it's need?
Where I can promote it?
How can I avoid or put low transaction cost?
How much time do I need per day behind this project?

If you want to share any suggestions then most welcome.

If you have to ask such basic questions, you are probably not suited to run an exchange.  Sorry.  :/

Thanks for your valuable reply.
If I want to start any business then definitely I know something about that business, but I have to gain more knowledge about that business to be success in same.

It takes a large investment and a lot of technical knowledge along with employees. Sure you could put up a cheap exchange run from a home server but who's going to want to use it? After you create a secure site and everything, you then need to spend on advertising and customer acquiring. With your background I think there are better options if you want to make money.

Everyone here to earn a profit, you are not? As I said in the previous post I have friends with skill and knowledge, so my side I don't have a problem with employees.
You are joking, why I should use cheap exchange for a big project.

I need advertising , can you suggest any best source of advertising for this project,if i start.?

[xMOPEx]

I have a feeling you're trying to do this on your own. This won't be possible. There are already so many exchanges that I advise you to leave this idea in the drawer.

[mvidetto]

Seems a good idea, but I guess sooner or later you will be faced by many other similar exchange projects 'cause there is a big competition working on for the same purpose.

[Thekool1s]

Well starting an exchange is no easy task! The problem is if you are on a tight budget you will have to hire freelancers who will code your website, How can you trust them for not leaving behind a backdoor? Beside this, you will have to ensure the users that their coins will be safe in some way or another, Just like coinbase, which offers refunds in case they get hacked in the future. Just like Vod said, from the looks of it you don't have Computer knowledge it will be a huge challenge for you to make it run smooth. Achievable? yes, but i will recommend you to not go down this road. Better Businesses are waiting to be opened.

[Cryptoearner]

I have a feeling you're trying to do this on your own. This won't be possible. There are already so many exchanges that I advise you to leave this idea in the drawer.

Maybe later i have to put this idea in drawer but not now, without understanding problems, I should not stop now.

[Cryptoearner]

Seems a good idea, but I guess sooner or later you will be faced by many other similar exchange projects 'cause there is a big competition working on for the same purpose.

I want to build small exchange website, with very low fees people will get attract because of low fees, i think they may attract with it.

[steamon]

Currently, I don't recommend starting an exchange website unless you can offer something very unique. Coin to coin exchanges you have. shapeshift, 0x, Changelly and Blocktrades.

Where 0x really take the crown by making something unique. What we are seeking for is a good decentralized exchange where we can also trade with margins.

Lately with the real exchanges every time there is something going on when one exchange gets too many users. Scaling is the biggest issue right now. If you can fix that and make it properly decentralized everyone would be using your exchange tomorrow. That's how it works. What customers like that's where they stay. To many deposit problems? Customers leave to new exchange that has no problems.

[savioroshan]

for starting a exchange the basic thing what you need is a big budget in your pocket.  Because you are creating an exchange you need to hire programmers.  ok may be your friend can do that. But it's your duty to cross check the codes of the script or test the script with the help of another programmer because you are going to handle others money. you will also need money for advertising your site like signature campaign etc to attract visitors in your site. so if you dont have enough money please dont step into this business.

[mobnepal]

There are few services out there which offers creating a brand new exchange platform for you, you can search for them in google.

Just tell them what features you want in your exchange, they will give you quote.

Building exchange is profitable?
How much investment it's need?
Where I can promote it?
How I can avoid or put low transaction cost?
How much time I need per day behind this project?

Depends upon how you will run it.

ask the one who will build it and add around $2000 on that which you might have to spend on initial advertising.

----------------?

Depend upon how successful your project will be in future. You might have to spend more than 8 hours a day in early days because you might have to handle lots of advertising campaigns.

[error08]

Building exchange is profitable?

Yes, it is profitable, mostly from charge fees for customers transactions

How much investment it's need?

Consider how much you want to invest into an exchange, domain, web servers, SSL and have to hire some pro about IT or programmers which mean; at least you need more than $7,500.

Where I can promote it?

You can promote it in this forum by using your own signature and make an ANN thread about your exchange, or through every social media such as telegram, facebook, twitter, etc.

How I can avoid or put low transaction cost?

You can't avoid transaction cost, but you still could apply low transaction, BTC0.005 for withdraw bitcoin and 1% for withdraw fiat currency are convenient and fair in my opinion.

How much time I need per day behind this project?

In the beginning, you need 24 hours a day, 7 days a week, keep an eye to your web and maintain it.
Yes, you need to sacrifice your time and effort to build an exchange.
But, for small exchange, maybe 15 hours per day is enough.

[Cryptoearner]

Currently, I don't recommend starting an exchange website unless you can offer something very unique. Coin to coin exchanges you have. shapeshift, 0x, Changelly and Blocktrades.

Where 0x really take the crown by making something unique. What we are seeking for is a good decentralized exchange where we can also trade with margins.

Lately with the real exchanges every time there is something going on when one exchange gets too many users. Scaling is the biggest issue right now. If you can fix that and make it properly decentralized everyone would be using your exchange tomorrow. That's how it works. What customers like that's where they stay. To many deposit problems? Customers leave to new exchange that has no problems.

I can only offer low transaction fees as for unique 
Small exchange so definitely low views, i don't want a huge crowd.

[Cryptoearner]

for starting a exchange the basic thing what you need is a big budget in your pocket.  Because you are creating an exchange you need to hire programmers.  ok may be your friend can do that. But it's your duty to cross check the codes of the script or test the script with the help of another programmer because you are going to handle others money. you will also need money for advertising your site like signature campaign etc to attract visitors in your site. so if you dont have enough money please dont step into this business.

I have enough budget to start own "small " exchange website and it not cost more as i have programmer friends. and sure i will cross check if i will start .